MIDWEST HOLDING INC. FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.

On July 1, 2022, the Company appointed Daniel S. Maloney as its Principal
Accounting Officer ("PAO"). As previously reported, Debra Havranek retired as
our previous PAO on June 30, 2022. Mr. Maloney began his employment with the
Company on May 23, 2022, in the position of Executive Vice President of
Accounting and Finance.

Mr. Maloney's employment is at-will and not subject to an employment agreement. Mr. Maloney's initial annual base salary is $225,000 and he is eligible for an
annual discretionary targeted bonus of 50% of his base salary with a prorated
guaranteed bonus of $10,000 (payable in December 2022) and $65,625 (payable in
March 2023) for the 2022 performance year.

In connection with his employment, Mr. Maloney was granted a stock option for
10,000 shares of the Company's voting common stock with an exercise price of
$11.20 which was the fair market value as of the date of grant. The option vests
in equal installments on the second and fourth anniversaries of the start date
of his employment and is subject to his continuous employment with the Company
and expires 10 years from the date of grant.

Mr. Maloney also receives other benefits as are customarily provided to
similarly situated employees of the Company, including paid vacation, coverage
under the Company's medical, life, disability and other insurance plans, and
reimbursement for all reasonable business expenses in accordance with the
Company's expense reimbursement policy. Mr. Maloney also received $17,500 in
connection with his relocation and moving expenses.

Immediately prior to joining the Company, Mr. Maloney was Head of Accounting at
Players Health, Inc., Minneapolis, Minnesota, an organization providing safety
and insurance services and products to athletes. From 2021 through part of 2022, Mr. Maloney was Controller for AM Re Syndicate, Inc., Dallas, Texas, a
reinsurance provider for cyber, marine, transportation and general liability
programs. From 2015 into 2021, Mr. Maloney was Vice President, Controller for
American Fidelity Assurance Company, Oklahoma City, Oklahoma, a company that
provided supplemental health insurance benefits and financial services. Prior to
this, Mr. Maloney held various accounting positions in the insurance industry
and also worked for a public accounting firm, starting as a Staff Accountant and
finishing as an Audit Manager. Mr. Maloney is a Certified Public Accountant and
earned a B.S. in Business (Major in Accounting) from Eastern Illinois University
and an MBA from the University of Illinois.

Item 9.01     Financial Statements and Exhibits.

(c) The following exhibits are filed as a part of this Report:

Exhibit No.  Description
104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document).




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